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Article: Strauss-Elite to sell excess Reshet stake
- Article from:
- Jerusalem Post
- Article date:
- May 9, 1997
- Author:
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AVIVA KRULL, Globes
Jerusalem Post
05-09-1997
The sale of Strauss's excess shares in Reshet, the Channel 2 television franchisee, will be completed by the end of May or the beginning of June, Reshet CEO Tzadik Bino said yesterday.
Reshet is owned by Yediot Media (24%), Poalim Investments (24%), Elite (21%), Tzadik Bino (17%), and Strauss (14%). According to the Second Channel Law, a single holding in a broadcast company must be limited 30% of a franchisee's shares, and shareholders who are owners of other communications media may hold only up to 24%.
With the acquisition of Elite, Strauss holds 35%, and must sell 5% of the voting shares and 3% of the capital shares.
According to the ...
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